This compound is primarily utilized in organic synthesis as a versatile building block for the development of more complex chemical structures. Its unique combination of fluorine and iodine atoms makes it particularly valuable in the creation of pharmaceuticals, where it can serve as an intermediate in the synthesis of active pharmaceutical ingredients (APIs). The presence of both halogen atoms allows for further functionalization through various cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in medicinal chemistry for constructing diverse molecular frameworks. Additionally, it can be employed in the preparation of agrochemicals and specialty chemicals, where its structural features contribute to the desired biological activity or material properties. Its ester group also provides a handle for further chemical modifications, enhancing its utility in multi-step synthetic processes.